nVerses Capital LLC Acquires 1,100 Shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG)

nVerses Capital LLC raised its stake in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 550.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,300 shares of the company’s stock after acquiring an additional 1,100 shares during the period. nVerses Capital LLC’s holdings in Covenant Logistics Group were worth $69,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CVLG. CWM LLC raised its holdings in shares of Covenant Logistics Group by 2,336.4% during the second quarter. CWM LLC now owns 536 shares of the company’s stock valued at $26,000 after purchasing an additional 514 shares during the last quarter. Innealta Capital LLC bought a new stake in Covenant Logistics Group in the 2nd quarter worth approximately $27,000. Quest Partners LLC raised its stake in Covenant Logistics Group by 172.1% during the 2nd quarter. Quest Partners LLC now owns 1,978 shares of the company’s stock valued at $97,000 after buying an additional 1,251 shares during the last quarter. EMC Capital Management bought a new position in shares of Covenant Logistics Group during the 1st quarter valued at $149,000. Finally, SG Americas Securities LLC purchased a new position in shares of Covenant Logistics Group in the 2nd quarter worth $176,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Covenant Logistics Group Price Performance

Shares of NASDAQ:CVLG opened at $51.99 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.08 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $679.61 million, a PE ratio of 16.66 and a beta of 1.34. The firm’s 50 day moving average price is $52.32 and its 200-day moving average price is $49.58. Covenant Logistics Group, Inc. has a twelve month low of $38.25 and a twelve month high of $56.96.

Covenant Logistics Group (NASDAQ:CVLG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.09. Covenant Logistics Group had a net margin of 3.76% and a return on equity of 13.78%. The business had revenue of $287.50 million for the quarter. During the same quarter in the previous year, the business posted $1.07 earnings per share. Equities research analysts expect that Covenant Logistics Group, Inc. will post 4.07 EPS for the current year.

Covenant Logistics Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, September 6th. Covenant Logistics Group’s dividend payout ratio is presently 14.10%.

Insider Buying and Selling at Covenant Logistics Group

In other news, Director Herbert J. Schmidt sold 21,000 shares of Covenant Logistics Group stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $55.24, for a total transaction of $1,160,040.00. Following the transaction, the director now directly owns 12,134 shares of the company’s stock, valued at $670,282.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, TD Cowen upped their price objective on Covenant Logistics Group from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Covenant Logistics Group Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.